Flavour (Pty) Ltd issued R200 000 12% secured debentures at 105% on 1 July 20x4. Interest
Question:
Flavour (Pty) Ltd issued R200 000 12% secured debentures at 105% on 1 July 20x4.
• Interest is payable twice yearly on 31 December and 30 June.
• The debentures are redeemable at par value in ten years’ time.
• The effective interest rate is 5.58%.
• The company’s financial year end is 30 June.
You are required to:
Prepare the journal entries for the year ended 30 June 20x5. (Narrations are not required.)
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To prepare the journal entries for the year ended 30 June 20x5 for Flavour Pty Ltd regarding the iss...View the full answer
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ISBN: 9781485112112
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Authors: David Flynn, Carolina Koornhof, Ronald Arendse, Anna C. E. Coetzee, Edwardo Muriro, Louise Christel Posthumus, Louise Mancy Smit
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